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are we in the usa imitating failure? did you know that california and new york and hawaii are also poised to hit their richest people with a greater than 50% tax rate? isn't that great? emulate france. here now is jim pethokoukis of the american enterprise institute. jim, i thought we wanted to emulate success, not furl. >> i thought so, too. listen, the president wants to run an experiment and see how high we can crank up tax rates in this country without it hurting economic growth. they're already running it in europe, in france, in great britain. the entire european experiment here has been one of tax hike austerity. even though they focus on the spending cuts, you're talking about a high tax area raising taxes even higher. we're trying to to do the same thing here. >> least the brits have the humility to acknowledge their mistake. they took the rate from 40% 050%. millionaires left the island. now they're coming back and dropping it to 45%. at least the brits have some humility. the french don't seem to have any. those socialists are going to go down with the ship. >> they're going to
'm watching for is the 17th when the president is due to take his family to hawaii. i don't think he wants to be in hawaii without a deal. something is going to come up. >> ron, what about you? >> i thought the resignation of senator jim demint, who was a staunch conservative, which was a surprise departure, tells me the republicans in many ways are throwing in the towel on this deal. he's a guy who fought tooth and nail against this thing, against raising tax rates. you may want to work from the outside in, which is the way the press is portraying this. it looks like too many republicans are beginning to throw in the towel. they may finds a compromise that isn't necessarily clinton era tax rates, something in between. but it looks like the makings of a deal. with every change on the republican side, more and more likely to happen than not. >> all right. we'll see about that. we'll be watching. obviously, very, very important for the markets. thanks. see you later. >>> let's get to bertha coombs. one company with big moves after the bell. over to you. >> maria, amarin is falling after the
is scheduled to go to his hawaii vacation, which will cost taxpayers $4 million. >> according to the hawaii reporter. >> the other bookmark is his inauguration. you don't want these things to go through the inauguration, either. so, that gives us a very tight window. >> look, politicians have a long track record of kicking the can down the road. they could certainly do it again. but i've characterized this bull market as sort of the rodney dangerfield of bull markets. absolutely no respect. and it just keeps climbing this wall of worry, as the old adage goes. >> talk a little bit about earnings and the things you are covering, health care, financials. >> certainly. >> how do you think earnings are going to shape up for 2013? >> i'm optimistic. we could see $110 for the s&p 500. the multiple right now is about 12 1/2. we get down to 12, 13 seems to be unlucky. we can't seem to break through that. but if we get through this cliff issue, and we will, one way or another, even if we go over the cliff, there will be some resolution afterwards. i think earnings are going to hang in there pretty we
ourselves in, and the last night president obama called myself and the speaker and maybe others from hawaii and asked if there was something we could do to avoid the fiscal cliff. i would say we're frustrated because we've been asking the president and the democrats to work with us on a bipartisan agreement for months. literally for months, a plan that would simplify the tax code and shrink the deficit, protect the taxpayers and grow the economy. democrats consistently rejected those offers. the president chose instead to spend his time on the campaign trail. this was even after he got re-elected and congressional democrats sat on their hands. now republicans have bent over backwards. we stepped way, way out of our comfort zone. we wanted an agreement, but we had no takers. the phone never rang, and so now here we are five days from the new year, and we might finally start talking. democrats have had an entire year to put forward a balanced bipartisan proposal, and if they had something to fit the bill, i'm sure the majority leader would have been able to deliver the votes the president wou
, isn't it? >> the president is scheduled to go to hawaii a week from today. >> it's boehner and obama. >> there are things, there's a telephone. understand, they have phone service in ohio and hawaii. >> there's an urgency here that dave cody gets. why? because he has said, i'm not hiring until we get this stuff fixed. now, why doesn't that -- well, everybody, the job, small business job creator. come on, man. honeywell hires. that means other towns do great. that means you get into a very virtuous cycle mode. david, it is not about the small businessman. the little businessman doesn't do well unless the big businessman does well. >> who are they selling to? >> honeywell just hired 200 people. >> no doubt about it. >> the opening bell here at the new york stock exchange for a friday. top of the screen, the s&p 500. nasdaq, avago technologies. >> single-family rentals, homes for rent, single-family rentals, that's the way it's sort of getting all that notion, at least today that some people are locked out of credit. they are renters, or renters nation. >> the real estate investment tru
saved on at least $2,000 with this deduction. on the flip side, borrowers in washington, d.c., hawaii and california, they're getting the biggest tax benefit in the $3,000 to $4,000 range. new york and new jersey are also way up there, thanks to high home values and income. and i'm noting them because these two states need home buyers, desperately. they have some of the biggest backlogs of distressed properties and need buyers in there absorbing that distress. taking away the deduction takes away one more reason to buy. $2,000 to $5,000 a year is a big savings. but we have to keep this in perspective. you only get the deduction if you itemize an only about one-third of americans do itemize. just 27% taking the deduction. and i want to note one other thing, older americans, 54% of families ages 55 to 64 are carrying mortgage debt. that's way up from 37% in 1989, because during the housing crash they were unable to move. so that's going to hit them hard as well. especially for the next several years. melissa? >> some very interesting figures. diana, thanks for that report. back at headq
Search Results 0 to 5 of about 6